Title/Name/Summary
Dick's Sporting Goods House of Sport - Redevelopment Agreement Ordinance
History
In March of 2025, the Village Board passed a Tax Increment Financing (TIF) district reimbursement resolution for the proposed Dick's House of Sports at the former Sears location. The resolution allows the Village to investigate establishing a TIF district to support the project and reimburse itself and the developer for eligible expenses if a TIF district is created.
On August 12, 2025, the Village Board approved the major redevelopment deal terms in the form a redevelopment agreement term sheet. Since that time, the Village has been working with representatives from Dick's Sporting Goods to negotiate the redevelopment agreement based on the deal terms approved in the term sheet.
The term sheet was non-binding. However, the approval of the redevelopment agreement will bind the Village and Dick’s Sporting Goods to the terms as set forth and described below.
Project
Dick’s Sporting Goods Inc. has entered into a purchase and sale agreement to purchase the former Sears property in the Village at Orland Square Mall. The Mall has experienced vacancies and decreased foot traffic due to changes in the retail environment and the Sears Parcel has been vacant for approximately 6 years.
Dick's Sporting Goods (DSG) intends to redevelop a portion of the Sears parcel with a Dick's House of Sport, by either (i) a two-level Dick’s House of Sport that occupies a minimum of 90,000 square feet of retail floor area (not inclusive of back of house storage or unused space) consisting of a minimum of 45,000 square feet on each level with stairs between two floors, or (ii) a one-level Dick’s House of Sport with retail floor area that occupies substantially all of the second floor with the first floor being reserved for an alternate retail use.
In either case, the Dick’s House of Sport will include retail space and some or all of the following uses: climbing wall, indoor batti...
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